I think at the end of day its just down topersonal choice as to which machine you prefer i chose the PS3 as i wanted metal gear, killzone and the resistance and of course blu ray. There both very good machines in there own right, its just down to what you want the machine for.
I just done the most recent update today on the PS3 and it took 26 minutes including install, which was very fast for a PS3 install for me.
I had to one myself too the other day, seemed a little faster for once lol.
If i have a game i play a lot i load it onto my 360 hardrive to stop the endless disc spinning.It makes a lot of difference.I got the elite just because of the 120g harddrive included and it has just had a new motherboard(within warranty) so lost nothing as you only send the console.
just got my elite and i need the poxy cable to transfer from the small hard drive to the new 120Gb. first and only complaint i have about the xbox! lol